The founder of “Cash App,” Bob Lee, is dead and passed away following a stabbing in San Francisco.

According to his family, Bob Lee, the billion-dollar creator of the tech company “Cash App,” was stabbed to death on Tuesday near “San Francisco’s central business district.” A 43-year-old guy with stab wounds was discovered by police, who treated him until he subsequently passed away in the hospital. His father, Rick Lee, confirmed the death. Rick Lee was the former chief technology officer at Square.

San Francisco’s government has come under fire for how it handled a recent spike in violent crime.

On Tuesday at 02:35 local time, police officers replied to reports of the murder. The San Francisco Standard has seen CCTV footage of Mr. Lee strolling down a desolate alleyway and appearing to be asking for assistance.

Mr. Lee is shown stumbling towards a parked car, where he lifts up his shirt to disclose his injury, but the automobile drives off before the tech mogul hits the pavement.

According to the San Francisco Chronicle, when police discovered Mr. Lee in the Rincon Hill neighbourhood motionless and suffering from two stab wounds to the chest, they immediately began first aiding him before sending him to the hospital.

“A smartphone-based programme called Cash App” that enables person-to-person money transfers is now valued at $40 billion (£32 billion), according to Forbes.

Since its debut in 2013, its user base has grown rapidly; it reached seven million monthly active users in 2017 and is expected to reach 30 million by 2020.

According to data from 2021, inhabitants there have a 1 in 16 risk of becoming a victim of a violent or petty crime each year, making the city more unsafe than 98% of American communities.

San Francisco has experienced a very high rate of homicides since the outbreak. In 2021 and 2022, there were 56 homicides in the city, and according to early police figures, there have already been 12 this year.

No charges have been filed as part of the ongoing investigation, and San Francisco police have not yet named a suspect in this case.

The murder of Bob Lee is an unfortunate incident, said San Francisco Mayor London Breed in a statement, assuring the public that “safety of the public” is a top priority in the city.